swingfiddle
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what time i will consider the start of the day so to set up the fibonacci and have the daily support and resistant?
The start of a day is when the server time passes 24:00 hours into 00:01. Hope this helps
Nico
As we all know the forex circus rolls along 24hr/24hr. When one market closes another will open and on we go until we come back to the beginning and start all over again.
However within this 24hr merry-go-round there are times when we can find greater volume and therefore much more price action to work with due to two markets being open at the same time. When I say markets I mean Stock Exchange Markets. It pays to trade at these times and give the quieter trading hours a miss.
Many strategies are in fact based around these market opening times, and several years ago I used to trade just the London open and by 12 'o' clock my day was finished.
To help give you a reminder, I've posted below a simple graphic that shows the four main stockmarket trading times within a larger trading zone shown either side. The most important is the Asian close/European open and of course the European/American markets that are open at the same time.
Here is the timetable for my time, GMT +1 (CET)
View attachment 1145
Here is the same graphic but with the times blanked out. If you think it could help please feel free to print it off and fill in the hours that suit your location on the planet.
View attachment 1146
There is also a quite nice desktop widget that Oanda have made for Yahoo! just adjust the timezone for where you are and you'll always know which market is about to open or close.
FXMarketHours - Yahoo! Widgets